Insider Selling: Edge Therapeutics Inc (EDGE) Insider Sells 7,500 Shares of Stock
Edge Therapeutics Inc (NASDAQ:EDGE) insider Brian A. Leuthner sold 7,500 shares of Edge Therapeutics stock in a transaction dated Wednesday, October 4th. The stock was sold at an average price of $10.96, for a total value of $82,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Edge Therapeutics Inc (NASDAQ EDGE) traded up 0.72% during midday trading on Wednesday, hitting $11.16. The stock had a trading volume of 23,033 shares. Edge Therapeutics Inc has a 52-week low of $7.30 and a 52-week high of $13.50. The stock’s market cap is $344.30 million. The firm has a 50 day moving average price of $10.20 and a 200-day moving average price of $9.97.
Edge Therapeutics (NASDAQ:EDGE) last issued its quarterly earnings results on Tuesday, August 1st. The biotechnology company reported ($0.44) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.44). Equities analysts predict that Edge Therapeutics Inc will post ($1.87) EPS for the current fiscal year.
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Several equities research analysts have recently issued reports on the company. Zacks Investment Research cut Edge Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. BidaskClub raised Edge Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday, August 3rd.
A number of institutional investors have recently modified their holdings of EDGE. Voya Investment Management LLC purchased a new position in Edge Therapeutics in the 2nd quarter valued at about $106,000. Wells Fargo & Company MN lifted its stake in Edge Therapeutics by 1.7% in the 1st quarter. Wells Fargo & Company MN now owns 11,942 shares of the biotechnology company’s stock valued at $109,000 after buying an additional 200 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in Edge Therapeutics by 16.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 11,959 shares of the biotechnology company’s stock valued at $123,000 after buying an additional 1,733 shares in the last quarter. Trexquant Investment LP purchased a new position in Edge Therapeutics in the 1st quarter valued at about $143,000. Finally, State of Wisconsin Investment Board purchased a new position in Edge Therapeutics in the 2nd quarter valued at about $154,000. 49.38% of the stock is currently owned by hedge funds and other institutional investors.
Edge Therapeutics Company Profile
Edge Therapeutics, Inc is a clinical-stage biotechnology company that discovers, develops and seeks to commercialize hospital-based therapies capable of transforming treatment paradigms in the management of acute, life-threatening critical care conditions. The Company’s initial product candidates target rare, acute, life-threatening neurological and other conditions.
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